To gain an edge, this is what you need to know now.

Powell Changes Colors

Please click here for a chart of Nasdaq 100 ETF ().

Note the following:

  • Please start by reading the Morning Capsule and the Special Capsule. A signal was given in the Special Capsule to raise hedges.
  • The chart shows an early selloff as momo gurus were spooked in the premarket.
  • Yesterday momo gurus were urging their followers to aggressively buy the dip because the Fed would rush to help them and run stocks higher.
  • The reason momo gurus were spooked this morning was that the prepared text of Powell’s testimony did not include the Fed rushing in to help the momo crowd with more money printing.